TSI RAISES $2.75 MILLION IN PRIVATE PLACEMENTTSI Corp. of Worcester, Mass., said Wednesday that it raised$2.75 million through a private placement of 1.1 millionrestricted shares of common stock.
Three new investors, T. Row Price Strategic Partners Fund,Matuschka Venture Partners and MDT Advisers Inc., paid $2.50a share for the stock, substantially less than $4.69-a-shareclosing price Wednesday of TSI's listed stock (NASDAQ:TSIN).The new restricted shares have voting rights, but will not beregistered with the Securities and Exchange Commission andcannot be traded for an unspecified period of time.
This was TSI's third financing in the past nine months, and it"puts us in a position of being well capitalized," said John Green,TSI senior vice president of finance. -- Charles Pelton
ENZO LAUNCHES DNA PROBES FOR HPV
Enzo Diagnostics Inc., a wholly owned unit of Enzo Biochem Inc.of New York, launched two DNA probes for use in research todetect the human papillomavirus (HPV) in cervical specimens,such as those obtained from Pap smears.
Infection with certain strains of HPV has been strongly linkedto cervical cancer. One of the Enzo tests detects a wide range ofHPV types, while with the other test researchers can detectwhether the HPV strain represents a low, moderate or high riskof causing cervical cancer. Enzo is using the tests in clinicaltrials before it applies to the Food and Drug Administration formarketing approval. -- Rachel Nowak
PROTOTEK RENEWS AGREEMENT WITH MERRELL DOW
Prototek Inc. of Dublin, Calif., said Wednesday that it renewed aresearch agreement with Marion Merrell Dow Inc. to developproteolytic enzyme inhibitors as treatments for arthritis.
Terms of the agreement were not disclosed. Marion MerrellDow of Kansas City, Mo., has an unspecified equity position inprivately held Prototek.
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